Candle retracement indicator

[kingkunta]

HI all, hope you guys are having a great Friday. does anyone know where I can find an indicator which will highlight a candle/make an arrow if the candle is over certain percent retracement? for instance I want it to highlight the candle if a red candle is 67% bearish. For example

https://imgur.com/a/CO88LFu

Thanks in advance for any help

 

[SleepyZ]

HI all, hope you guys are having a great Friday. does anyone know where I can find an indicator which will highlight a candle/make an arrow if the candle is over certain percent retracement? for instance I want it to highlight the candle if a red candle is 67% bearish. For example

https://imgur.com/a/CO88LFu

Thanks in advance for any help

Try this

plot retracement = if close < open and close < high - (.67 * (high - low)) then 1 else 0;
retracement.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);

##Testing Code
plot retrace     = if close < open then high - (.67 * (high - low)) else Double.NaN;
retrace.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
retrace.SetDefaultColor(Color.WHITE);
retrace.SetLineWeight(3);
AddChartBubble(1, low, close + "\n" + (high - (.67 * (high - low))), Color.YELLOW, no);

 

[kingkunta]

Try this

This is EXACTLY what I needed. Thank you! is there a way to do it for the bullish side as well? How can I do that

 

[SleepyZ]

This is EXACTLY what I needed. Thank you! is there a way to do it for the bullish side as well? How can I do that

Here is both bull and bear with testing. It should be easy to make any adjustments if it does not do the bull as you expected.

plot retracement_bull = if close > open and
                           close > low + (.67 * (high - low))
                        then 1 else 0;
retracement_bull.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
plot retracement_bear = if close < open and
                           close < high - (.67 * (high - low))
                        then 1 else 0;
retracement_bear.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);

##Testing Bull Code
input testing = yes;
plot retrace_bull     = if close > open
                        then low + (.67 * (high - low))
                        else Double.NaN;
retrace_bull.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
retrace_bull.SetDefaultColor(Color.WHITE);
retrace_bull.SetLineWeight(3);
retrace_bull.SetHiding(!testing);

AddChartBubble(testing, high + .10, close + "\n" + (high - (.67 * (high - low))), Color.YELLOW);

##Testing Bear Code
plot retrace_bear     = if close < open
                        then high - (.67 * (high - low))
                        else Double.NaN;
retrace_bear.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
retrace_bear.SetDefaultColor(Color.WHITE);
retrace_bear.SetLineWeight(3);
retrace_bear.SetHiding(!testing);

AddChartBubble(testing, low - .10, close + "\n" + (high - (.67 * (high - low))), Color.YELLOW, no);
;

 

[kingkunta]

Here is both bull and bear with testing. It should be easy to make any adjustments if it does not do the bull as you expected.

plot retracement_bull = if close > open and
                           close > low + (.67 * (high - low))
                        then 1 else 0;
retracement_bull.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
plot retracement_bear = if close < open and
                           close < high - (.67 * (high - low))
                        then 1 else 0;
retracement_bear.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);

##Testing Bull Code
input testing = yes;
plot retrace_bull     = if close > open
                        then low + (.67 * (high - low))
                        else Double.NaN;
retrace_bull.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
retrace_bull.SetDefaultColor(Color.WHITE);
retrace_bull.SetLineWeight(3);
retrace_bull.SetHiding(!testing);

AddChartBubble(testing, high + .10, close + "\n" + (high - (.67 * (high - low))), Color.YELLOW);

##Testing Bear Code
plot retrace_bear     = if close < open
                        then high - (.67 * (high - low))
                        else Double.NaN;
retrace_bear.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
retrace_bear.SetDefaultColor(Color.WHITE);
retrace_bear.SetLineWeight(3);
retrace_bear.SetHiding(!testing);

AddChartBubble(testing, low - .10, close + "\n" + (high - (.67 * (high - low))), Color.YELLOW, no);
;

Thank you so much!

 

[Trigun1127]

This is fantastic, I was looking for something similar.

 

[Trigun1127]

Here is both bull and bear with testing. It should be easy to make any adjustments if it does not do the bull as you expected.

plot retracement_bull = if close > open and
                           close > low + (.67 * (high - low))
                        then 1 else 0;
retracement_bull.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
plot retracement_bear = if close < open and
                           close < high - (.67 * (high - low))
                        then 1 else 0;
retracement_bear.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);

##Testing Bull Code
input testing = yes;
plot retrace_bull     = if close > open
                        then low + (.67 * (high - low))
                        else Double.NaN;
retrace_bull.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
retrace_bull.SetDefaultColor(Color.WHITE);
retrace_bull.SetLineWeight(3);
retrace_bull.SetHiding(!testing);

AddChartBubble(testing, high + .10, close + "\n" + (high - (.67 * (high - low))), Color.YELLOW);

##Testing Bear Code
plot retrace_bear     = if close < open
                        then high - (.67 * (high - low))
                        else Double.NaN;
retrace_bear.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
retrace_bear.SetDefaultColor(Color.WHITE);
retrace_bear.SetLineWeight(3);
retrace_bear.SetHiding(!testing);

AddChartBubble(testing, low - .10, close + "\n" + (high - (.67 * (high - low))), Color.YELLOW, no);
;

Hey sleepyz is it possible with this code to plot an arrow for reversal candles. So for instance when a bull bar is made its at some point the close becomes less then its open with a significant tail I would like it to plot an arrow if that bear bar closes below its mid point value. Tell me if that makes sense. I like the fact that this code allows me to to choose .50 or .70 in terms of when that arrow plots because it can determine the strength of the bar.